Price, 30, limped out of Rapids’ 2-1 defeat to Minnesota United over the weekend, in just his club’s fourth league outing of the 2023 campaign.
It was just the captain’s second taste of action of the season, both coming from the bench. He managed just 11 minutes at Colorado’s Dick’s Sporting Goods Park before having to be withdrawn.
It transpired the experienced former Molineux midfielder ruptured the Achilles tendon in his right leg and will undergo surgery later this week.
He is not expected to feature again this season, which means a lengthy period of recovery in a domestic campaign that runs right through to late October.
Price tweeted: “Promise to come back stronger than ever!!
“Gonna miss being out on that pitch with the boys! Thanks for the messages of support, means a lot.”
Shrewsbury-born Price made 115 appearances for Wolves between 2011 and 2018, having progressed through the academy.
He is a very popular figure in Colorado and is in his sixth season at the club.
Rapids are bottom of MLS Group West with just a point from four games.